Canada-based Sierra Metals would resume mining operations at its Bolivar mine in Mexico from June 1, according to the company’s press release.

 

The Mexican government had deemed mining operations essential effective May 18, which was later rescheduled to May 20. Bolivar mine is a major copper producer. Sierra’s Cusi mine in Mexico, however, will continue to remain under care and maintenance.

The company’s production comes from Yauricocha Mine in Peru and Bolivar and Cusi Mines in Mexico.

 

Sierra Metals has appointed Luis C. Marchese as Chief Executive Officer effective June 1, 2020. Marchese will be replacing Sierra Metals’ current President and CEO, Igor Gonzales, who will resign this position effective May 31, 2020, and his Board seat effective May 20.

 

Sierra Metals revenues for the March ending quarter (Q1) stood at $55.5mn, down by 12pc from the prior-year quarter. Operating profit increased in Q1 to $16.1mn from $12mn in Q1 2019. In the quarter, copper output from Boliver mine rose by 65pc to 6.40mn lbs as reported by Davis Index.

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